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As per a theory devised by Thorsten Veblen, he provided us with a critical analysis of people's habits and also regarding their social norms. He also introspected the way some people discard the segregations that stays within the social statute. It is done by emulating some of the elements of the leisure class; it presents an image of the people belonging to the higher class. In this article, we will be taking a look at the topic of Conspicuous Consumption, presented by Veblen. This term actually refers to the instance when a being is able to fulfill his/her demands/needs by buying a product at a cost which is lower but its quality is equal to its more costlier counterparts.
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